Over the last week or so we've seen a number of published reports show the Kansas City Chiefs salary cap space at a whopping $63 million. We didn't pay a whole lot of attention to that number because we knew it would change pretty quickly once some updated bonus numbers came in. Guys receive bonuses and escalators based on their play in 2011 that will be reflected in their 2012 cap number.
Once you take those numbers into account, the Chiefs salary cap is pegged at $37 million. Adam Teicher of the KC Star has the complete story on the Chiefs salary cap and explains it all there. They even show their math.
The Chiefs have a few ways they'll be spending that money in the coming weeks and months.
First, the franchise tag. The Chiefs are now allowed to use the tag and Brandon Carr or Dwayne Bowe each seem like perfect candidates for the tag. Roughly speaking, the receiver tag will be around $9.5 million and the cornerback tag will be around $10.5 million.
Second, the Chiefs will sign some of their own free agents. They have 21 of them now and will bring a lot of them back.
Third, the Chiefs will sign other teams free agents. Free agency starts March 13 and I already can't wait. KC should be players in the free agency market.
Fourth, the draft picks. The Chiefs will need to sign their draft picks with the rookie pool money.